BIZ301_Assessment 2_Venture plan_M5 Page 1 of 7 ASSESSMENT 2 BRIEF Subject Code and Title BIZ301 Organisational Creativity and Innovation Assessment Group Venture Plan Individual/Group Group Length...

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BIZ301_Assessment 2_Venture plan_M5 Page 1 of 7 ASSESSMENT 2 BRIEF Subject Code and Title BIZ301 Organisational Creativity and Innovation Assessment Group Venture Plan Individual/Group Group Length 4000 words +/- 10% Learning Outcomes b) Identify organisations that develop and foster the processes, practices and attributes for creativity and innovation c) Compare and contrast new venture creation using either business model generation or lean start up approaches d) Explain the implications for organisational strategy when developing a culture of creativity and/or innovation e) Assess the suitability of innovators as agents of change ubmission Due by 11:55pm AEST/AEDT Sunday of Module 5 (week 10) Weighting 40% Total Marks 100 marks Objectives:  Create an idea of the group’s choice that is innovative, and develop a venture plan that could bring it to market  Demonstrate the use of various creative tools to establish the market validity of the group’s chosen innovation  Identify the client value proposition and the need in the market for the chosen product  Establish market segmentation, and channel strategy and marketing approach, to deliver the product/solution to the chosen market  Develop a financial model for a viable venture BIZ301_Assessment 2_Venture plan_M5 Page 2 of 7 Context Innovation, creativity, and entrepreneurship is growing in importance within organisations, as they pursue excellence and growth in a competitive business world. The ability of the contemporary employee or entrepreneur to operationalise an innovation is a highly valued characteristic, in the global market place. The process of developing the Group Venture Plan will provide you with key learnings on how to potentially take an idea from a concept to a globally scalable business. Instructions: You will utilise all relevant theories, models, and ideas covered in the subject, to develop a venture plan that demonstrates an understanding of where and how innovation transitions to entrepreneurship, in a new venture. You should also demonstrate that you understand, and have properly considered, a number of tools and methods for bringing the innovation to market. The plan needs to be comprehensive and compelling in terms of funding and ongoing management. You should also outline a strategy for how a culture of further and ongoing innovation can occur within the new venture. Output and deliverable parameters of the assessment: Content of Venture Plan: a) Title page – unit name, assessment name, student name, ID b) Idea title (with one-line “tagline”) c) Executive summary d) Analysis on possible market gap/opportunity e) Develop value proposition of the innovative product or service f) Marketing and channel strategy approach g) Competitive strategy and positioning h) Financial viability of the venture using break-even, cash flow, and investment needs i) Appropriate References – minimum of 10 (and using APA standard) Specifications:  Assignment with cover sheets submitted via Turnitin  Report format (section headings and sub-headings are permitted)  Maximum length, no more than 4,000 words +/-10%  Spell and grammar-checked  APA referencing only Submission Instructions: BIZ301_Assessment 2_Venture plan_M5 Page 3 of 7 Submit the group venture plan via the Assessment link in the main navigation menu, by the end of week 10 (one submission per group). The facilitator will provide feedback via the Grade Centre in the LMS portal. Feedback can be viewed in My Grades. BIZ301_Assessment 2_Venture plan_M5 Page 4 of 7 Learning Rubric: Assessment 2 Assessment Attributes Fail (Unacceptable) 0-49% Pass (Functional) 50-64% Credit (Proficient) 65-74% Distinction (Advanced) 75 -84% High Distinction (Exceptional) 85-100% Grade Description (Grading Scheme) Fail grade is awarded if a student is unable to demonstrate satisfactory academic performance in the subject or has failed to complete required assessment points, in accordance with the subject’s required assessment points. No clear distinguishing approach to the selected idea for the venture. Pass is awarded for work showing a satisfactory achievement of relevant learning outcomes. Identify appropriate entrepreneur and rational for section. Showing a clear approach to the idea and rationale for market success. Credit is awarded for work showing a more than satisfactory achievement of all learning outcomes and a more than adequate understanding of theory and application of skills. A clear understanding of the selected venture and rationale for the chosen product. Distinction is awarded for work of superior quality in achieving all learning outcomes and a superior integration and understanding of theory and application of skills. Evidence of in-depth research, reading, analysis and evaluation is demonstrated while a clear outline and timeline of achievements of the selected venture plan. High Distinction is awarded for work of outstanding quality in achieving all learning outcomes together with outstanding integration and understanding of theory and application of skills. Evidence of in‐ depth research, reading, and analysis, original and creative thought is demonstrated. Demonstrating clear approach to the value of the selected venture idea and the need in the market. Knowledge and Understanding Identify a suitable idea/project to develop a venture plan and scale to a global organisation Limited demonstrated potential for the group's idea/project. Limited detailing of the content of the venture plan to show how it Adequately describes the potential for the group's idea/project. Adequate detailing of the content of the venture plan to show how it Exceeds the basic requirements to somewhat convincingly demonstrate the potential of the group's idea/project. Exceeds the basic requirements to convincingly demonstrate the potential of the group's idea/project. Professionally and compellingly ”sells” the potential of the group's idea/project Expert detailing of the content of the venture plan to show how it http://www.tua.edu.au/media/50742/a240_grading-scheme.pdf BIZ301_Assessment 2_Venture plan_M5 Page 5 of 7 (35%) scales to a global organisation. scales to a global organisation. Good detailing of the content of the venture plan to show how it scales to a global organisation. Advanced detailing of the content of the venture plan to show how it scales to a global organisation. scales to a global organisation. Application with synthesis of new knowledge Use of relevant creativity tools and approaches for venture development (35%) Limited understanding of required concepts and knowledge. Key elements of the theory are not addressed. Little relevant use of creativity tools to arrive at the chosen venture idea. Adequate knowledge or understanding of the field or discipline. Resembles a recall or summary of key ideas. Often confuses assertion of personal opinion with information substantiated by evidence from the research/course materials. Some level of rationale for the chosen venture and its position in the market. Thorough knowledge or understanding of the field or discipline/s. Supports personal opinion and information substantiated by evidence from the research/course materials. Demonstrates a capacity to explain and apply relevant concepts. Begins to develop a clear understanding of the market need, competitive position, and customer need for the product /venture. Highly developed understanding of the field or discipline/s. Discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials and extended reading. Demonstrates a clear understating and strong approach to meeting the product/venture in a new market. A sophisticated understanding of the field or discipline/s Systematically and critically discriminates between assertion of personal opinion and information substantiated by robust evidence from the research/course materials and extended reading. Excellent demonstration of the venture’s position in the competitive market place and strong BIZ301_Assessment 2_Venture plan_M5 Page 6 of 7 understanding of the potential of the product. The path to market is expertly articulated. Analysis of the key drivers for financial success for the chosen venture Develop a 3 year cash flow and profitability analysis demonstrating high- level break even analysis and exit strategy (15%) Limited or poor financial analysis. No clear or convincing path to a positive financial outcome. Acceptable financial analysis. An adequate demonstrating of a conceivable path to financial success. Good financial analysis. A good demonstration of a credible path to sustainable financial success. Very good financial analysis. Thoroughly understands the market size and addressable market opportunity. A very good demonstration of a convincing and thorough path to financial success. Expert financial analysis. Highly sophisticated and creative analysis, of the market size and addressable market opportunity. An excellent demonstration of a compelling and comprehensive path to financial success. Effective Communication Correct citation of key resources and evidence meeting Difficult to understand for audience, no logical/clear structure, poor flow of ideas, argument lacks supporting evidence. Information, arguments and evidence are presented in a way that is not always clear and logical. Information, arguments, and evidence are well presented; mostly clear flow of ideas and arguments. Information, arguments, and evidence are very well presented; the presentation is logical, clear and well-supported by evidence. Expertly presented; the presentation is logical, persuasive and well supported by evidence, demonstrating a clear flow of ideas and arguments. BIZ301_Assessment 2_Venture plan_M5 Page 7 of 7 APA guidelines for referencing (15%) Audience cannot follow the line of reasoning. Demonstrates inconsistent use of good quality, credible and relevant resources to support and develop ideas and/or APA guidelines. Line of reasoning is often difficult to follow, structure of document is poor. Demonstrates use of credible and relevant resources to support and develop ideas, but these are not always explicit or well developed or referenced.
Answered Same DayJul 09, 2020BIZ301

Answer To: BIZ301_Assessment 2_Venture plan_M5 Page 1 of 7 ASSESSMENT 2 BRIEF Subject Code and Title BIZ301...

Sanchita answered on Jul 13 2020
155 Votes
Assignment        2
    
Organic food delivery services in Woolworths, Australia.
E. Value Proposition
· How Organic food delivery services can solve problems/ improve situation?
Millennial in the fast paced life
are increasingly getting health conscious; they want to eat something healthier and fresher. The negative health implications of eating packed, too much processed food is pretty evident, they contain truck load of preservatives, which is not good for the body. Hence, there has been growing interest and inclination towards the organic food. organic food as defined by leading health association across the globe refer to such a food that is naturally grown and does not rely on various artificial chemical fertilisers and pesticides and are grown using natural techniques to provide the highest grade food possible without any possible adulteration.
Thus, Organic food delivery services by Woolworths Australia is a good news for those, who want to enjoy fresh organic food but due to paucity of time are unable to do so. Woolworths brings this fast and super convenient delivery services that offers all your organic needs at your doorstep! Woolworths has long been market leader and its product and qualities are trusted by millions of Australians. Hence, Woolworths aims to continue the tradition albeit in a much more eco-friendly, greener and organic way (Woolworths, 2018).
· What specific benefits customers can expect?
Traditionally Woolworths have been known to be customer-friendly company with quality product offerings at best affordable prices. The company seeks to emulate the same for the organic food category. The organization understands that time and health are two of the most valuable thing that individuals are most concerned about, hence Woolworths proposes to provide healthiest range of cereals, fruits, vegetables within day of order. Customers can expect a wide range of food items that are branded organic, Woolworths knows it well that its customers are diverse and are more likely to have diversified tastes and preferences. Hence, in order to cater...
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